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Hamilton County/Chattanooga/37405

37405

ZIPSAFMR
Hamilton County, TN
Zillow

ZIP Investment Score

56Below average

095130300
BRFMR
Eff. Rent
0 BR$1,490$1,030
1 BR$1,550$1,170
2 BR$1,690$1,620
3 BR$2,090$1,970
4 BR$2,220$2,440
5 BR$2,553Not available
6 BR$2,936Not available
7 BR$3,376Not available
8 BR$3,883Not available

Purchase Price Calculator

Maximum purchase price
$178,815

Cost breakdown

+Likely effective rent$1,620
HUD FMR$1,690
Market rentUsed$1,620
Est. payment standard (97%)$1,640
-Principal and interest-$904
Loan amount$143,052
Down payment$35,763
Rate6.50%
Term30 years
-Operating costs-$516
Property taxes-$179
Insurance-$175
Utilities$0
HOA$0
Management-$162
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$26,074(72.9% ROI)
Projected value
$192,564
Return breakdown
Property appreciation+$13,749
Loan principal paid down+$5,125
Rental cash flow+$7,200
5-year hold
+$44,637(124.8% ROI)
Projected value
$202,313
Return breakdown
Property appreciation+$23,498
Loan principal paid down+$9,140
Rental cash flow+$12,000
10-year hold
+$95,861(268.0% ROI)
Projected value
$228,898
Return breakdown
Property appreciation+$50,083
Loan principal paid down+$21,778
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.45
1 BR
1.32
2 BR
1.04
3 BR
1.06
4 BR
0.85
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 37405 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 37405 (Chattanooga, TN) is $1,690 a month. That is down 1.7% from $1,720 in FY 2026. Chattanooga is in the Chattanooga, TN-GA MSA, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 38 ZIP codes in Hamilton County, 37405 is tied for the 5th-highest two-bedroom rent (county range $1,000–$1,820). The median county two-bedroom FMR in Tennessee is $1,048, so ZIP 37405 is 61% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 37405
BedroomsFY 2027Change90–110% range
Studio$1,490−0.7%$1,341–$1,639
1BR$1,550−0.6%$1,395–$1,705
2BR$1,690−1.7%$1,521–$1,859
3BR$2,090−2.8%$1,881–$2,299
4BR$2,220−3.1%$1,998–$2,442

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 37405
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,490$1,550$1,690$2,090$2,220
FY 2026$1,500$1,560$1,720$2,150$2,290
FY 2025$1,460$1,520$1,690$2,130$2,300
FY 2024$1,270$1,290$1,470$1,870$2,130
FY 2023$1,130$1,140$1,320$1,700$2,000

Two-bedroom rent in nearby Hamilton County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 37405
37401$1,440−14.8%
37402$1,460−13.6%
37403$1,620−4.1%
37404$1,270−24.9%
37405Current$1,690—
37406$1,160−31.4%
37407$1,130−33.1%
37408$1,6900.0%
37409$1,440−14.8%
37410$1,070−36.7%
37411$1,260−25.4%
37412$1,330−21.3%

Questions about ZIP 37405 rents

How much will Section 8 pay for a two-bedroom in ZIP 37405?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,690, that basic range is $1,521 to $1,859 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 37405 in?

ZIP 37405 is in the Chattanooga, TN-GA MSA. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 37405 for FY 2027?

The two-bedroom FMR fell 1.7%, from $1,720 in FY 2026 to $1,690 in FY 2027. Since FY 2023 it has risen 28.0%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentChattanooga, TN fair market rentTN statewide rentsWhat is SAFMR?Data sources